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Friday, 29 January 2016

D STREET BEGUN WITH A POSITIVE NOTE AFTER A TRAGIC JANUARY

The
market has ended with bullish trend. The BSE Sensex closes 1.64%, higher at
24,870 while the Nifty 50 closes 1.87% higher at 7563.About 1524 shares
advanced against 976 declining shares on the BSE Extensive buying was seen in the textile stocks, such as Himatsingka Seide, Welspun India, Indo Count Industries
and Trident . Aviation stocks are trading lower after international crude
oil prices gained. The market appears
bullish on long-term growth, but seems sceptical about the possibility of a
near-term rebound. Oil prices have
recovered 20%from their lows and metal prices have firmed up
supporting the market. Market breadth turned fairly positive with 25 of the 30
Sensex components ending the day in green. Larsen and Toubro Ltd rises
0.5% to Rs.1082
ahead of its December quarter earnings. This
is the best time for investors to build a portfolio or even change their
strategy because a lot of correction has already happened. European equities bounced back, tracking a strong
rally in Asian shares. The Bank of Japan ramped up its aggressive
stimulus campaign on Friday, adding negative interest rates on central bank
deposits to its massive asset-buying program, stunning financial markets that
expected no action or a moderate increase in asset purchases. The central bank
said the move was aimed at forestalling the risk of global financial turbulence
hurting business. Hero MotoCorp, Sun Pharma, Coal India, Bajaj Auto and Dr
Reddy's Labs were top gainers while SBI, Tata Steel, ICICI Bank, NTPC and ITC
were losers in the Sensex. After rising for the third straight day, gold prices
today eased from a three-month high by falling Rs 85 to Rs 27050 per 10 grams
at the bullion market, reflecting weak global cues amid a decline in demand.